Electronic Signature Drives Success in Insurance

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We love reading success stories about electronic signatures and electronic contract execution, especially in highly analytical, risk averse industries like insurance.

The latest issue of Insurance Networking News features a cover story about Amica Life’s adoption of electronic signature and online contract execution technology. We especially appreciate that Amica Life named DocuSign as its e-signature provider of choice.

Amica Life Insurance Co., Lincoln, R.I., used DocuSign’s e-signature technology to:

Slash transaction times: Previous transactions completed by mail averaged a 14 day turnaround. With DocuSign,transaction times average two days, or 14% of the previous turnaround.

“In terms of getting the coverage in force and getting the case out of our queue, it really sped things up,” says Duncan Hannah, assistant VP of Amica Life Insurance Co.

Improve customer service: DocuSign revolutionized how Amica Life handled changes to accounts, like changing beneficiaries. Instead of the “type a form – snail mail for signing – return to sender” process, Amica simply keys the information into the form, sends the document through DocuSign’s secure system for electronic signature, and gets the deal done.

“The whole transaction is completed in a much shorter timeframe, and there is less follow-up on our part,” Hannah says.

Close new business deals: Amica Life trains its sales agents to walk their customers through the electronic signature process in a manner that makes ESIGN feel natural. Those on Amica Life’s sales team report a high rate of DocuSign usage.

With DocuSign’s technology, all signers and senders need is an internet connection, email and a browser. An insurer can send a contract and have it securely signed online. There’s no software to install and add an unnecessary layer of complexity when you can have a esign solution that is fast, simple and secure.

Thanks to Duncan Hannah of Amica Life for sharing how electronic signature and electronic contract execution helps slash turnaround time, improve customer service and close business deals. You can read the article in its entirety and experience the power electronic signature (for free!) with DocuSign Express for Drawloop.